122 Contract and conveyance: the purchaser
Finance Act 2013 (2013 c 29) | Legislation

122  Contract and conveyance: the purchaser

(1)     This section applies where a person (“P”) enters into a contract under which—

(a)     P is to acquire a relevant chargeable interest, and

(b)     the acquisition is to be completed by a conveyance.

(2)     P is not regarded as acquiring any chargeable interest by reason of entering into the contract.

(3)     If the contract is substantially performed without having been completed, this Part has effect as if the substantial performance of the contract were the completion of the acquisition provided for by the contract.

(4)     Accordingly,

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